mostly OTM naked puts 4 and 2 wks out.
had some for Jan (that expired worthless :-), none for Feb (thankfully)
altho if it goes much lower, I will be tempted.
At times I will also do 2 to 4wk buy-writes in my IRA, selection of strike largely depends on my outlook. I try to adjust my strategies to the situation I am presented with... I am more likely to just trade long in my IRA tho.
another 10-15% from here, I hope not, but anythings possible.
I have supports at approx. 165 (strong), 158 (vstrong), 150 (almost a must hold). these can change depending on the timeframe it takes to reach these levels.
your scenario for a bounce to 176 sounds reasonable.
I'm not looking to play it right now, so it's tough for me to think of what to do. and of course, trading is largely a personal style kind of thing, so what's right for me may not be right for you.
that said, I might be inclined to just play the long side for bounces. I am prone to buying partial positions and completing on a move down to some support or up past a breakout.
It's tough to be right the first time, all the time. |
